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interest in the written lease to Kramer Hospitality, as required
under section 6.1 of the lease agreement.2
For the taxable year ending December 31, 1994, BERM filed a
Form 1120, U.S. Corporation Income Tax Return, and a Form 1120X,
Amended U.S. Corporation Income Tax Return. The 1994 tax return
was filed on September 18, 1995, and the boxes were checked for
initial return and final return. BERM did not file Form 966,
Corporate Dissolution or Liquidation, with respondent, as
required under section 6043(a).3 BERM also failed to file
articles of corporate dissolution with the Illinois secretary of
2 Section 6.1. of the lease agreement, entitled
Assignment and Subleasing, states as follows: “This Lease may be
assigned in whole or in part, and the Project may be subleased in
whole or in part, by the Lessee only with the written consent of
the Lessor”.
3 SEC. 6043. LIQUIDATING, ETC., TRANSACTIONS.
(a) Corporate Liquidating, Etc., Transactions.--
Every corporation shall–-
(1) Within 30 days after the adoption by the
corporation of a resolution or plan for the dissolution
of the corporation or for the liquidation of the whole
or any part of its capital stock, make a return setting
forth the terms of such resolution or plan and such
other information as the Secretary shall by forms or
regulations prescribe; and
(2) When required by the Secretary, make a
return regarding its distributions in liquidation,
stating the name and address of, the number and class
of shares owned by, and the amount paid to, each
shareholder, or, if the distribution is in property
other than money, the fair market value (as of the date
the distribution is made) of the property distributed
to each shareholder.
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